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Free Access(Z17) Immediate Focus On 55-DMA *RES.....>
GILT TECHS: (Z17) Immediate Focus On 55-DMA
*RES 4: 127.61 Low Sept 8 now resistance
*RES 3: 127.18 Low Sept 11 now resistance
*RES 2: 126.80 Low Aug 24 now resistance
*RES 1: 126.49 Low Aug 23 now resistance
*PREVIOUS CLOSE: 126.11
*SUP 1: 126.08 Bollinger band base
*SUP 2: 126.06 Low Sept 12
*SUP 3: 125.95 55-DMA
*SUP 4: 125.63 Low July 25
*COMMENTARY: Pressure on the 21-DMA and daily bull channel base took its toll
Tuesday with an aggressive sell-off and bearish close that leaves immediate
bearish pressure on the 55-DMA today. Bears look for a close below the 55-DMA to
shift initial focus to 125.63 and overall focus back to 124.71. Layers of
resistance are now weighing with bulls needing a close above 126.80 to gain
breathing room and above 127.61 to shift focus back to 128.24.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.